Author Archives: Russ

Dead Men Tell No Tales, Even When They’re Supposed To

Posted on October 8, 2017 by Russ

For tax practitioners, the IRS’s e-Services suite of applications is extraordinarily useful. When a client give us the appropriate authorization we’re able to pull transcripts from the IRS’s computer system. This helps us file appropriate tax returns and it helps … Continue reading →

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Can a Tunnel Bridge Agent be a Professional Gambler, Too?

Posted on October 2, 2017 by Russ

The Tax Court looked at whether someone who worked full time as a Tunnel Bridge Agent could also be a professional gambler. There is a lot in the decision, including some things that I believe the Court gets wrong. The … Continue reading →

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It’s One 1099 Per Person, Or the Most Stupid and Hilarious Thing I’ve Seen in Some Time

Posted on September 29, 2017 by Russ

One of my clients, Barri Brown (all names in this post are fictitious), was missing a 1099 issued by one of the two large Daily Fantasy Sports (DFS) companies. It didn’t show on her Wage & Income Transcript, so she … Continue reading →

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IRS Suspends ASFR Program

Posted on September 26, 2017 by Russ

Via Procedurally Taxing comes news that the IRS has suspended the Automated Substitute for Return (ASFR) program. This doesn’t sound like much, but this is huge news. First, for those who aren’t tax geeks, the ASFR program is an automated … Continue reading →

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Prepare to Panic!

Posted on September 25, 2017 by Russ

Today is Monday, September 25, 2017. Exactly three weeks from today is Monday, October 16, 2017. That’s the deadline for individual taxpayers on extension to file their tax returns (save for those in hurricane disaster zones in Florida, Georgia, Texas, … Continue reading →

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The Train to Nowhere Remains a Boondoggle

Posted on September 22, 2017 by Russ

California’s high speed rail, aka The Train to Nowhere, remains likely to never carry passengers between Northern California and Southern California. Perhaps the segment linking Merced and Shafter (just north of Bakersfield) will run (although unlikely at high speed); more … Continue reading →

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Harvey and Irma Relief Includes the FBAR

Posted on September 13, 2017 by Russ

Taxpayers with $10,000 aggregate in one or more foreign financial accounts must file an FBAR (Report of Foreign Bank and Financial Accounts, Form 114) with the Financial Crimes Enforcement Network (FINCEN). FINCEN has announced on their website that they are … Continue reading →

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IRS Transcript Delivery System Failing for Many Users; No Fix Time

Posted on September 12, 2017 by Russ

One of the major tools I use is the IRS’s e-Services system; the component I use the most is the Transcript Delivery System (TDS). Last weekend, the IRS did a major “upgrade” of the system. I have to put upgrade … Continue reading →

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IRS Gives Tax Deadline Relief to Victims of Hurricane Irma

Posted on September 12, 2017 by Russ

The IRS today announce that they are extending tax filing deadlines for victims of Hurricane Irma to January 31, 2018. The relief applies to any area designated by FEMA as qualifying for individual assistance (areas in Florida, Puerto Rico, and … Continue reading →

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IRS Appeals Steele Decision

Posted on September 7, 2017 by Russ

Earlier this year a court ruled that the IRS cannot charge for Practitioner Tax Identification Numbers (PTINs). To no one’s surprise, yesterday the IRS appealed the decision to the US Court of Appeals for the District of Columbia. It will … Continue reading →

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